Weather In Bulgaria On March 29: Sunny Skies and Rising Temperatures Across The Country
Bulgaria is set to experience favorable weather conditions on March 29, with mostly sunny skies forecasted across the country
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The Bulgarian economy is expected to grow moderately this and next year, according to projections of the International Monetary Fund (IMF).
In 2015 the IMF says GDP will be up 1.2%, and in 2016 gross output will increase by 1.5 percent. This is less compared to last year, when growth was at 1.7%.
IMF forecasts released as part of the World Economic Outlook report, made available over the weekend, suggest Bulgaria cannot pin its hopes on catch-up growth on which many governments in the EU's poorest nation have relied.
Bulgaria is still ranked as part of "Emerging and Developing Europe", though so are other EU member states from Eastern Europe, including Poland, Romania, Hungary, and Croatia.
Among them, however, the country has the second-worst GDP forecast for 2015-2016, outpacing only Croatia whose economy contracted 0.4% in 2014 and will grow sluggishly in 2015 (0.5%) and 2016 (0.1%).
To compare, Poland's GDP will enjoy a stable growth of 3.5% in 2015-2016, up from 3.3% last year. This is also close to the "Emerging and Developing Europe" average levels (the region also includes Turkey and Serbia): it grew 2.8% in 2014 and economies are projected to increase by 2.9% and 3.2% in 2015 and 2016 respectively.
In terms of current account balance, Bulgaria had a zero current account balance last year and should not expect severe fluctuations in 2015 (0.2% of GDP), though this will change the year after (negative 0.8% of GDP).
Unemployment is projected to gradually decrease from 11.5% this year to 10.9% in 2015 and 10.3% in 2016, above rates of other "developing" EU states except Croatia (17.1% in 2014, 17.3% in 2015, 16.9% in 2016).
The table contains a footnote reading that "emerging" European countries include Albania, Bosnia-Herzegovina, Kosovo, Macedonia and Montenegro, though economic data for these is not included.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
Svetoslav Stanulov, chairman of the Association of Bulgarian Airlines (ABA), has emphasized the need to assess Sofia Airport's potential as a hub for transit and transfer flights
Pegasus Airlines is set to recommence its scheduled flights between Sofia and Istanbul, marking a significant milestone in air travel connectivity between Bulgaria and Turkey
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022